CA SB1526

Increases the gross receipts threshold for tax-exempt organizations to be exempt from annual filing requirements from $25,000 to $50,000 for taxable years beginning on or after January 1, 2012.

Organizations with gross receipts not exceeding $50,000 are no longer required to file annual information returns with the Franchise Tax Board, reducing compliance burdens for smaller nonprofits.

Maintains existing filing requirements and penalties for organizations that must file, including a $10 filing fee (increased to $25 if late) and monthly penalties of $5 for late filing.

Applies to all tax-exempt organizations under Revenue and Taxation Code Section 23701, with specific exemptions continuing for churches and their auxiliaries, and certain religious and educational organizations.